Whirlpool Corporation on Home Appliances

 

Whirlpool, Export Plan to Canada

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Florida International University

MAR4144 Fall 2020

 

Group 6

 

 

 

 

Table of Content

 

 

Executive Summary…………………………………………………………………..Pg. 3

 

Introduction: “Why should we Export?”…………………………………………………….. Pg. 4

 

Mission ………………………………………………………………………….………Pg. 5

 

Vision……………………………………………………………………………………Pg. 5

 

Goals: Short & Long term …………………………………………………………….Pg. 6

 

Business model………………………………………………………………………..Pg. 7

 

Background Analysis…………………………………………………………………Pg. 8

 

Firm’s resources………………………………………………………………………Pg. 9

 

Marketing Strategy……………………………………………………………………Pg. 10

 

Marketing Components………………………………………………………………Pg. 11

 

Balance sheet…………………………………………………………………………Pg. 12

 

Income Statement……………………………………………………………………Pg. 12

 

Cash Flow ……………………………………………………………………………..Pg. 13

 

PERT………………………………………………………………………………….Pg.14

 

Background data of targeted countries…………………………………………….Pg. 14

 

Bibliography……………………………………………………………………………Pg. 15

 

 

 

 

 

Whirlpool Corporation: Home Appliances


In your executive summary, you should spell out better why you chose Canada.  Next, in the ‘why we are exporting,’ state the strategic reasons for Canada such as it will make us more competitive, more productive, and there’s a free trade agreement!!!!!!!

Executive Summary:

       

The starting point was on November 11, 1911.  Lou Upton and his Uncle Emory Upton, owner of a machine shop, decided that they will open which is now one of the biggest corporations in modern time: Whirlpool Corporation, previously known as Upton Machine Company. Revolutionizing the home appliances the Upton family began producing their first and one of their future key marks, a motor-driven-wringer washer. The product matter fact was such a hit that it landed famous customers like Sears and Roebuck Co. as customers. They were so successful that in order to keep up with the demand the Upton merge with Nineteen Hundred Washer Company and adopted their name, but later change it to “ Whirlpool Corporation ” has a brand name and sold a new version of the washer, the spinner washing machines and introduction to new products like automatic dryers and irons. This new product further solidified the reputation of its products as innovative and reliable.

 

Over the decades’ the name Whirlpool Corporation was highly known throughout any household in the United States. However, this wasn’t enough for this ambitious company, which decided to diversify its brand even more in order to compete with other manufactures. They took advantage of key players in the industry. Whirlpool proceeded to acquire various companies (in the USA), with different products such as refrigerators, RCA air conditioning, television from Warwick Electronics, KitchenAid, and etc. Now with a vast and diversified product under their umbrella, Whirlpool went ahead and expanded its roots on a global scale. Making a solid impact on India with their compact washer and gathering interest in what’s today one of its more profitable markets, Canada. In today’s time, Whirlpool Corporation is an international multi-billion dollar company, with its HQ located in Benton Harbor, Michigan, and owner of various USA companies that export around the globe.

 

 

Why Should this Company Export?

 

On July 1, 2020, the United States-Mexico-Canada Agreement (USMCA) was introduced to replace NAFTA. The agreement allows the importer to make claims directly to customs authority to set duty rates based on the qualification of the goods from the responsible producer. Economic integration between the U.S and Canada has increased dramatically over the years. In fact, in 2018 the U.S exported to Canada goods with a value of $365 billion which represents 15% of the total U.S. exports. Despite the few trade barriers and rules when exporting to Canada there are ways to combat these issues. Working closely with the U.S. Commercial Service office to get in touch with offices in Canada. In addition, our freight forwarder and the bank will have experience working with our desired country of destination.

Exporting to Canada would be a great opportunity to satisfy the high demand for appliances in that region. With the rapid growth of e-commerce in this industry, Whirlpool has taken the opportunity to reach a wider market through the use of online channels. In 2019 Whirlpool brought over 21 billion U.S. dollars in revenue, which counted as the fifth consecutive year of exceeding in total sales goals. In Canada specifically, we want to target homeowners who primarily use Whirlpool, Maytag, Acros, KitchenAid, and Supermatic brand names. We sell some products to tiger distributors and retailers who re-sale them under the respective brand name.

Expanding to the Canadian market implies some risks but North America represents more than 50% of the total sales. Showing not only how reliable and satisfactory Whirlpool customers feel about their products, but also how profitable this specific market is for a Whirlpool Corporation which has been able to put a mile of distance between its competitors and themselves with their innovating products.

 

Mission/Vision

The mission of Whirlpool Co. is to earn trust and create demand in the digital world.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BUSINESS MODEL

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BACKGROUND ANALYSIS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIRMS RESOURCES

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